Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 5.3% – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) shares dropped 5.3% during trading on Thursday . The stock traded as low as $52.57 and last traded at $53.93. Approximately 106,482 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 642,974 shares. The stock had previously closed at $56.94.

Analyst Upgrades and Downgrades

TARS has been the subject of several recent research reports. Barclays lifted their price target on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Oppenheimer raised their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $56.00.

Tarsus Pharmaceuticals Stock Down 3.5 %

The company’s 50 day moving average price is $51.95 and its two-hundred day moving average price is $40.42. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.10 billion, a P/E ratio of -14.44 and a beta of 1.01.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd bought a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $53,000. FMR LLC raised its stake in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after buying an additional 3,537 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $227,000. SG Americas Securities LLC raised its stake in Tarsus Pharmaceuticals by 87.5% in the third quarter. SG Americas Securities LLC now owns 7,242 shares of the company’s stock worth $238,000 after buying an additional 3,379 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Tarsus Pharmaceuticals by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,317 shares of the company’s stock worth $241,000 after buying an additional 2,879 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.